Core Viewpoint - Stimulating consumption is essential not only for short-term demand management but also for optimizing China's economic growth model and investing in human capital in the long term, while avoiding new capacity overcapacity [3][12]. Group 1: Economic Growth and Consumption - The urgency of policies to boost consumption is increasing as major macroeconomic indicators in China show a significant decline in year-on-year growth rates [3]. - Increasing the proportion of consumption in GDP is necessary for optimizing China's economic growth model and enhancing residents' well-being [4][7]. - The current consumption level in China is significantly lower than that of major global economies, indicating a lack of perceived economic growth benefits among residents [7]. Group 2: Investment and Human Capital - Investment should focus on enhancing future output and consumption, with a higher return on investment achievable through support for education, healthcare, and child-rearing [8]. - The macroeconomic return on educational investments is higher than that of material capital investments, suggesting that investing in human capital is more beneficial for economic growth [8]. Group 3: Capacity Overcapacity and Economic Structure - The reliance on government-led infrastructure investment has often resulted in ineffective supply and overcapacity, which does not align with market demand [10][11]. - Stimulating consumption can help reduce dependence on government investment and alleviate overcapacity pressures, leading to a more balanced economic structure [10][12].